5 brokerage settlements receive preliminary approval
Firms that settled in the Gibson/Umpa case in March and April will have until later this year to finalize the agreements, but more than 20 defendants remain.
April 30, 2024
Dave Gallagher
Director, News Reporting
Dave's journalism career spans 24 years covering business, the economy and real estate in Northwest Washington. He's also a numbers nerd, examining data to spot emerging trends in industries. Having started his career as a sports writer, he's a lifelong baseball and soccer fan and recently discovered pickleball. He grew up in Yosemite National Park and earned his journalism degree at Humboldt State University in northern California.
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- Zillow offering 7-day ‘touring agreement’ for agentsThe NAR settlement does not address home search portals, but Zillow wants to make it easier for buyers to try out an agent in a way that aligns with new rules.April 30, 2024
- KW CEO on emerging from the wilderness, looking to the futureMark Willis returned to Keller Williams after a 7-year hiatus, and he’s ready to lead in a new way. “It’s not about proving myself. It’s about impact.”April 30, 2024
- Douglas Elliman the latest firm to settle commissions lawsuitsThe brokerage becomes the ninth real estate entity to strike a deal with home sellers, with an initial damages payment of nearly $8 million.April 29, 2024
- NAR president to industry executives: ‘I’m sorry’“We fought as hard as we could,” said Kevin Sears this week when speaking about the settlement, its impact, and the need to change the media narrative.April 26, 2024
- HomeServices makes $250 million deal to settle commissions lawsuitsThe last defendant standing in the Sitzer/Burnett case reaches a whopping settlement that will protect its 70,000 agents plus brands and franchises.April 26, 2024
- Consumers question agents' value — the industry should push backA T3 Leadership Summit panel discussed the agent value prop, consumer interest in new compensation models, and how the industry can be more proactive.April 26, 2024
- Mixed market signals: Mortgage rates shoot up, sales trend positiveEven as interest rates and prices keep rising, new and pending home sales have ticked up.April 25, 2024
- Realty ONE, @properties reach settlements in commission casesThe brokerages are the first to settle following preliminary approval of the NAR agreement by a Missouri judge earlier this week.April 24, 2024
- Judge grants preliminary approval of NAR settlementA hearing for final approval is scheduled for Nov. 26. The court filing also included information about who is covered in the nationwide class action.April 23, 2024
- Home sellers make another bid for consolidation in MissouriPlaintiffs in Umpa and Gibson have asked the court to merge the two lawsuits. The antitrust cases cover similar ground and name several of the same defendants.April 22, 2024
- Brokerages, MLSs not covered under NAR deal face 60-day deadlineSitzer/Burnett plaintiffs filed preliminary approval docs on Friday, triggering a countdown to opt in to the agreement process outlined by NAR and the courts.April 22, 2024
- What’s new and what’s next, post-NAR commissions deal?The Supreme Court passes on a chance to weigh in, objections pile up, and Fannie and Freddie say it’s all right to exclude commissions from seller concessions.April 20, 2024
- Mortgage interest rates soar above 7%, reaching new 2024 highNo rate relief is expected soon, and home prices are also setting records this spring, suppressing existing home sales.April 18, 2024
- KW still on the hook for spam calls, judge rulesA Pennsylvania judge concluded the brokerage company has personal jurisdiction in a telemarketing lawsuit involving agents from a franchise office.April 18, 2024
- Major homebuilder objects to commissions settlement processPulteGroup, which potentially has thousands of claims as a seller, raised concerns about “needless and time-consuming” paperwork and lack of transparency.April 16, 2024
- No quick judgment for home sellers in commissions caseThe judge in Sitzer/Burnett declined the plaintiffs’ motion to enter a $5.4 billion award, saying other motions and settlements need to be finalized.April 15, 2024
- Supreme Court to HomeServices: Sitzer/Burnett verdict standsThe brokerage lost its bid to have the verdict tossed out, leaving it with fewer options as the lone defendant in the landmark commissions case.April 15, 2024
- Judges rule against merging commissions copycats — for nowThe ruling leaves open the possibility of consolidation after settlements have concluded. But in the meantime, cases that had been on pause can move forward.April 12, 2024
- Sitzer/Burnett plaintiffs push for steep judgment — plus interestAttorneys argued that the home sellers “should not have to wait indefinitely to defend their verdict on appeal” and provided details about the case’s timeline.April 12, 2024
